Business Services Industry

[1581] Large business compliance strategy - Tax Office promises 2 year audits.

Australasian Business Intelligence, September, 2006

Byline: Annamaria Carey

Sep 11, 2006 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office (ATO) held its first ever large business symposium on 30 August 2006. It also released on the same day a revised version of its 2003 "Large business and tax compliance" booklet. The booklet outlines the factors that are likely to make a large company the target of an ATO audit, including unexplained tax losses and a financial record that seems to be at odds with other companies in the same sector. The ATO also made a commitment to complete large business audits within two years of commencing them.

Publication Date: 1 September 2006

AUSTRALIAN TAXATION OFFICE

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